The case charts the growth of Cobra Beer since 2003, focusing on five particular areas of diversification: (1) product; (2) geographical; (3) sourcing; (4) distributional; and (5) organisational. We also analyse the process of product development at Cobra, with specific reference to Cobra Bite; a fruit-flavoured premium lager launched in May 2007. Cobra's strategy continues to break all the moulds and deliver outstanding results. In the declining UK beer market, Cobra goes from strength to strength by creating significant points of difference in their product range and marketing. Simultaneously, Cobra have succeeded in tackling global markets, especially that of India, where a 600 percent growth rate has been recorded. How can Cobra's success be explained, and are such high levels of growth sustainable?